Pulse oximetry market to grow by USD 1139.54M from 2023-27

The global pulse oximetry market size is estimated to grow by USD 1139.54 mn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of over 8.27% during the forecast period. The Pulse Oximetry Market caters to various indications, including intubation, cardiac arrest, sedation, respiratory disorders, and sleep apnea. Chronic respiratory conditions like COPD, asthma, and OSA are on the rise, particularly in Asia. Asthma causes 6-7 deaths per 1,000 annually. In 2022, approximately 34 million people in India had asthma. Pulse oximeters come in forms like fingertip, handheld, and tabletop, with features such as Bluetooth, memory, and data transfer. They are used in hospitals, ambulatory surgical centers, and newborn screening. Devices include wireless, smart, and alarm systems. Silicon adhesive ensures signal acquisition, and repositionability enhances user convenience.

Segment overview
This pulse oximetry market report extensively covers market segmentation by Product (Bedside/desktop pulse oximeters, Handheld pulse oximeters, Fingertip pulse oximeters, Wrist-worn pulse oximeters) End-user (Hospitals, clinics, Alternative care settings) Geography (North America, Europe, Asia, Rest of World (ROW))

Market segmentation by product
The global pulse oximetry market has experienced significant growth, particularly in hospitals and healthcare facilities, due to the increasing prevalence of respiratory disorders, sleep disorders, and chronic diseases. The market includes various types of pulse oximeters, such as fingertip, handheld, and tabletop models. These devices have become essential tools for pilots, athletes, mountaineers, and other individuals requiring real-time oxygen saturation level monitoring. During the pandemic, handheld and fingertip pulse oximeters gained popularity for home use. Infants and neonates also benefit from these devices during newborn screening and hospital care. Advanced pulse oximeters offer Bluetooth connectivity, memory, and data transfer capabilities. Hospitals, ambulatory surgical centers, and geriatric populations utilize patient monitoring devices, including wireless pulse oximeters, to reduce morbidity and mortality. Accuracy, repositionability, and smart meter features are crucial for these devices. Silicon adhesive and signal acquisition technology ensure proper device attachment and reliable signal acquisition. Alarm systems and Bluetooth connectivity provide added safety and convenience. Pneumonia and other respiratory disorders continue to drive the demand for these vital stats monitoring devices.

Geography overview
The Pulse Oximetry Market in North America is driven by the high prevalence of respiratory disorders and chronic diseases among the geriatric population. Patient monitoring devices, including Bluetooth and wire monitoring devices, play a crucial role in measuring oxygen saturation levels and ensuring patient safety during critical care, anesthesia, childbirth, surgery, neonatal, and pediatric care. Vendors such as General Electric Co., Medtronic, Masimo, and Smiths Medical dominate the market, offering advanced products like wireless pulse oximeters with silicon adhesive, signal acquisition, repositionability, smart meters, and alarm systems. Technological advancements enable Bluetooth connectivity, enabling proactive monitoring for home consumers and clinicians. The pandemic has increased demand for pulse oximeters among various populations, including pilots, athletes, mountaineers, and infants, highlighting the importance of accuracy and data transfer capabilities.

Research analysis
The pulse oximetry market has experienced significant growth due to the increasing demand for patient monitoring devices, particularly among the geriatric population and those with respiratory disorders. Bluetooth and wireless pulse oximeters have gained popularity for their convenience and proactive monitoring capabilities, allowing home consumers and clinicians to keep a close eye on vital stats such as oxygen saturation levels. Technological advancements have led to the development of fingertip pulse oximeters, making it easier for remote monitoring in various settings, including critical care, anesthesia, childbirth, surgery, neonatal, and pediatric care. The pandemic has further accelerated the adoption of these devices, ensuring patient safety during coronavirus outbreaks.

Market research overview
The pulse oximetry market is a significant segment in the healthcare industry, driven by the increasing demand for non-invasive patient monitoring solutions. Devices such as Pulse Oximeters measure the oxygen saturation level in a patient’s blood and pulse rate, providing critical health information in real-time. The market is witnessing growth due to the rising prevalence of chronic diseases, increasing healthcare expenditures, and technological advancements. Moreover, the market is expected to experience robust growth in the coming years, with a focus on developing portable, wireless, and cost-effective devices. Companies like Philips, Masimo, and Nonin are key players in the market, offering innovative solutions to meet the evolving needs of healthcare providers and patients alike. The market for Pulse Oximetry devices is a vital component in the global healthcare landscape, enabling early detection and effective management of various health conditions. Technavio